Infinera and the Infinera logo are registered trademarks of Infinera Corporation.
Forward-Looking Statements
This press release contains
certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally relate to future events or Infineras
future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as anticipate, believe, could, estimate, expect,
intend, may, should, will, and would or the negative of these words or similar terms or expressions that concern Infineras expectations, strategy, priorities, plans or intentions. The
Companys expectations related to its financial results for the third quarter and fourth quarter of 2024, the Companys expectations related to its compliance with Nasdaq requirements, and the Companys expectations regarding its
accounting adjustments are among the forward-looking statements in this press release. Neither Infinera, nor its auditors, has completed the review of its financial results for the third quarter or the fourth quarter of 2023, and the final third
quarter and fourth quarter 2023 financial results may be impacted by Infineras determination as to whether Infinera will need to restate its financial statements for any prior or subsequent periods including interim periods. This determination
will depend in large part on the impacts of the accounting matters described above on Infineras financial results for prior periods, and whether these impacts are material. These determinations have not yet been made.
The preliminary results for the third quarter and fourth quarter of 2023 presented in this press release assume that Infinera will not need to restate its
financial results for any prior periods. While Infinera believes this assumption is reasonable based on information currently available to it, this information may change, Infineras assessment of all available information may change, and/or
its auditors may have a different perspective on these matters. In the event that Infinera does need to restate its financial statements for prior periods, its financial results for the third quarter and fourth quarter of 2023 would likely be
affected.
Infineras financial results for the third quarter and fourth quarter of 2023 are also subject to all aspects of the final quarterly
review process and may change as a result of new information that arises, or new determinations that are made, in this process. The Companys forward-looking statements herein are based on estimates and information available to Infinera as of
the date hereof and are not guarantees of future performance; actual results could differ materially from those stated or implied due to risks and uncertainties. The risks and uncertainties that could cause Infineras results to differ
materially from those expressed or implied by such forward-looking statements include demand growth for additional network capacity and the level and timing of customer capital spending and excess inventory held by customers beyond normalized
levels; delays in the development, introduction or acceptance of new products or in releasing enhancements to existing products; aggressive business tactics by Infineras competitors and new entrants and Infineras ability to compete in a
highly competitive market; supply chain and logistics issues, including delays, shortages, components that have been discontinued and increased costs, and Infineras dependency on sole source, limited source or high-cost suppliers; dependence
on a small number of key customers; product performance problems; the complexity of Infineras manufacturing process; Infineras ability to identify, attract, upskill and retain qualified personnel; challenges with our contract
manufacturers and other third-party partners; the effects of customer and supplier consolidation; dependence on third-party service partners; Infineras ability to respond to rapid technological changes; failure to accurately forecast
Infineras manufacturing requirements or customer demand; the effects of public health emergencies; Infineras future capital needs and its ability to generate the cash flow or otherwise secure the capital necessary to meet such capital
needs; the effect of global and regional economic conditions on Infineras business, including effects on purchasing decisions by customers; the adverse impact inflation and higher interest rates may have on Infinera by increasing costs beyond
what it can recover through price increases; restrictions to our operations resulting from loan or other credit agreements; the impacts of any restructuring plans or other strategic efforts on our business; our international sales and operations;
the impacts of foreign currency fluctuations; the effective tax rate of Infinera, which may increase or fluctuate; potential dilution from the issuance of additional shares of
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